What is the Battery Protect Plan?
The Battery Protect Plan offers comprehensive coverage for damages incurred during the charging of electric vehicle batteries due to electrical accidents, which are not covered under standard insurance or manufacturer warranties.
Why should I consider a battery protection plan?
The Battery Protect Plan provides essential coverage for electric vehicle owners against damages resulting from high voltage line faults during charging. These incidents aren't typically covered by manufacturer warranties or standard vehicle insurance. By investing in a battery protection plan, you're safeguarding yourself from potential financial risks associated with battery damage. It's a proactive step that ensures you're fully covered in case of unforeseen electrical accidents during the charging process, offering peace of mind and protecting your investment in your electric vehicle.
What does the Battery Protect Plan cover?
The Battery Protect Plan covers “Full Battery Pack” damages specifically caused by electrical grid issues. This includes surges, outages, or other grid-related problems that can affect the battery's performance and integrity.
What documentation is required when filing a claim under the Battery Protect Plan?
You can Just file a claim, no additional document or proof is required. Our goal is to make the claim process as smooth and hassle-free as possible.
What happens if a claim under the Battery Protect Plan is denied?
If a claim is to be denied, we provide clear evidence and justification for the rejection. This ensures transparency and fairness in the evaluation of your claim.
Can You inspect my Vehicle or battery at any time?
Yes, by availing of the Battery Protect Plan, you agree that the plan firm has the authority to conduct inspections at any stage, from manufacturing to delivery to the end user. These inspections help ensure the quality and safety of your battery throughout its lifecycle.
How does the Battery Protect Plan differ from standard vehicle insurance?
While standard vehicle insurance covers visible damages from accidents, the Battery Protect Plan specifically covers internal damages (No sign of damage outside, but diagnosable through special test equipment) to batteries that can occur during charging due to electrical issues like high voltage or lightning strikes.
What are the benefits of the Battery Protect Plan?
Key benefits include financial protection against costly battery repairs or replacements, coverage for specific electrical damages, and flexible claim options. This Plan offers significant benefits including claims for up to 100% of the battery pack cost.
I do not want to replace my full battery pack, if it is serviceable can it be?
Yes, if you have an add-on pack you can claim repair cost, it includes damages to cells due to power supply, zero voltage in cells caused by acid leaks, battery signal wire shorts, Battery Management System (BMS) failures, and other electrical faults occurring during charging.
If I bought add-on pack, what are the claim options available?
Option 1: You can choose one full battery replacement, which covers the entire cost of replacing the battery pack.
Option 2: This option is one full battery replacement followed by one claim for internal components (up to 15% of the eligible claim amount), This is ideal for those needing repairs in addition to a battery replacement.
Option 3: Option for two separate claims for internal components, each up to 15% of the eligible claim, within the coverage period. This option does not include a battery replacement but focuses on two minor repairs over time.
How many claims can be made in a plan period?
If you don’t have an Add-on Pack, only one full pack claim is allowed, if you bought an add-on pack, three options available (As mentioned above).
When will my plan lapse?
Your plan will be lapsed when the plan period is over or your eligible claim is achieved.
If I take my eligible claim in the middle of my plan period, and the plan is over, Can I renew my plan immediately after the claim?
Yes, you can, it will be renewed once the customer and the protect plan company show willingness.
If I take full claim in middle of my plan period, so the plan is lapsed, renewing is only for the remining period or for one year?
The renewal will usually be for one year, or up to your next claim.
If I have Add-on pack, what are the limitations on billing amounts for internal component claims?
For internal component claims under this plan, the billing amount is capped at a maximum of 30% of the eligible full claim for the battery. This helps manage costs and ensures the sustainability of the protect plan benefits.
If I have Add-on pack, what happens if my internal component claim exceeds the 30% limit?
If the cost of repairs for internal components exceeds the 30% limit of the full eligible claim, you will not be able to proceed with the internal component claim. In such cases, you must opt for a full claim instead, which covers the replacement of the entire battery.
How do fluctuations in battery rates affect my claim value?
The value of claims, particularly for internal components, is variable and can change in accordance with fluctuations in battery rates. It's important to be aware that as market prices for batteries adjust, so too will the maximum allowable claim amounts under the protect plan.
What should I do if I suspect my EV battery has been damaged during charging?
Initially, check for visible damage and then contact your dealer for a diagnostic test as per the guidelines provided by the protect plan company.
How is a claim processed under this Plan?
A claim involves an initial dealer inspection, followed by a detailed evaluation at an approved testing centre to identify the cause and extent of the damage.
What does the claim approval process involve?
If the damage is confirmed to be due to a covered risk, such as a power supply issue, the Plan company will approve the claim. The company must provide evidence to deny a claim, proving the damage was caused by other factors like physical damage or non-compliance.
What are the claim percentages based on vehicles?
Claim eligibility starts at 100% for the first 6 months and decreases annually, down to 10% by the sixth year of the vehicle.
Is it possible to receive a 100% claim on my EV Battery, even in the fifth year of ownership?
The claim amount for your vehicle is typically determined by its Protect Plan Declared Value (PDV), which depreciates by 15% year on year (YOY) by default. However, protect plan holders may be eligible to receive up to 85% of the vehicle's value in the fifth year if the vehicle is well-maintained. To qualify for this, the vehicle must undergo an inspection by the insurance company to ascertain its condition, as per the terms specified in the protect plan.
What does it mean “vehicle is well-maintained”?
Maintaining your vehicle in good condition involves regular servicing, timely repairs, and following the manufacturer’s maintenance schedule. It's important to keep records of all maintenance for inspection purposes. As we know, your battery is depreciable, if you have less usage and you maintain vehicle well, So the battery will depreciate less, by evaluating your Battery, vehicle and maintenance records, your PDV is decided.
What are the things required to partner a vehicle manufacturing or battery manufacturing company with you?
To ensure the highest safety and performance standards, all battery packs must be manufactured according to AIS 048 or AIS 156 standards. Additionally, manufacturers must have a quality control mechanism in place, evidenced by an ISO certification.
How does the streamlined process benefit EV owners?
We have established partnerships with certified battery manufacturers to streamline the enrolment process. This approach minimizes the paperwork for EV owners and facilitates easier access to protect plan benefits, ensuring a smoother and more efficient experience.
What happens if my vehicle's manufacturer is not partnered with the protect plan company?
If your vehicle manufacturer is not partnered with the protect plan company, your vehicle may not be eligible for the Battery Protect Plan.
What damages are excluded from this plan?
Damages resulting from misuse, visible physical damages, accidents, or non-compliance with manufacturer guidelines are not covered.
What types of damages are covered under the standard vehicle insurance?
Standard vehicle insurance typically covers visually identifiable damages caused by accidents, theft, other external impacts, own damage, 3rd party etc. (Please check your insurance company for more details.)
What is the maximum claim value under this plan?
The maximum claim is limited to the Plan Declared Value (PDV), which considers the current market value and condition of the battery.
What documents are required to enrol in this plan?
Invoice copies, and unique identification numbers for the vehicle, battery, and charging components are required. Validation is mandatory for older or non-planned vehicles.
What steps should I take if my EV has low mileage or won't turn on?
Low mileage can come from several factors, consult your manufacturer’s service center to check, if the issue is battery-related, and whether it is covered under this plan or insurance or warranty.
Can I renew the Battery Protect Plan after a claim?
Once a claim option is completed, you must pay a new premium to restart or continue coverage under a new protect plan agreement.
Are injuries caused by the battery covered?
No, the plan does not cover any injuries caused by the battery or its components.
How are battery components evaluated for damage?
Components are assessed both visually and through diagnostic testing to detect any internal electrical faults.
What if a dealer failed to identify the defect?
The battery is sent to an approved testing center for further analysis to conclusively determine the failure causes.
What if a fault is identified as a manufacturing defect during the plan coverage period?
If the issue is identified as a manufacturing defect and the warranty is active, the repair or replacement will be handled by the manufacturer.
How can I contact customer support for the Battery Protect Plan?
Customer support contact details are provided in your protect plan documentation for any inquiries or issues regarding your coverage.
Can the protect plan cover be transferred if I sell my vehicle?
Yes, It can be transferable like as vehicle insurance, Protect Plan transfer from to be submitted to the protect plan company.
Is there a deductible or excess fee?
The Plan details regarding deductibles or excess fees would be specified in your Plan agreement. Generally, the owner’s contribution acts as a form of deductible.
How are non-visible internal damages handled?
Non-visible damages undergo further investigation at an evaluation lab, involving detailed testing to identify internal faults.
How do I get my new battery?
If your claim is approved by our assessment team, Protect plan holder need to pay their contribution, we add our contribution and pay full amount to the manufacturer buy a new battery. Once the New battery is received, we send it to you. (Ex. If your vehicle is under 85% claim, and your claim is approved, you are asked to pay only the 15% amount, then the protect plan company add the remaining 85% amount, and buy a new battery, and give it to you).
Can I retain the old battery or its components after making a claim under the protect Plan?
No, the old battery or any components claimed under warranty remain the property of the protect plan company. Therefore, you cannot retain them after the claim is settled.
Is the claim Percentage calculated from the included GST amount?
Yes, plan holders afford the claim percentage benefit including GST. However, you get GST for your plan premium and your claim contribution.